At the 2024 performance release conference, Huang Hongri, the vice president of MINSHENG BANK, responded to questions regarding Orient Group's debts. He stated that Orient Group's overall loan proportion at the bank is not high, and the bank has comprehensively considered the customer's risk status and the collateral guarantees, and has made corresponding provisions. It is expected that this will not have a significant substantive impact on the bank's Operation. It was reported that the loan balance of the Orient Group at the bank is 7.694 billion yuan, a decrease of 1.9 billion yuan compared to the end of last year. The main collateral is land in the Peking area, including commercial Real Estate mortgages and other Assets. Huang Hongri stated that the bank has currently filed a lawsuit against Orient Group's debts with the Peking Financial Court and has received a notification of case acceptance. The bank will subsequently protect its legal rights according to the law. (KE Holdings)
#MINSHENG BANK has filed a public prosecution against Orient Group Incorporation for outstanding debts# There will be no significant impact on Operation.
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